208,843 Broadcom Inc. $AVGO Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its Broadcom stake by 9.9%, selling 208,843 shares and retaining 1.89 million shares valued at approximately $660.8 million. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom reported strong quarterly results, with EPS of $3.32 exceeding estimates and revenue of $29.59 billion, up 85.5% year over year. The company also declared a $0.65 quarterly dividend, or $2.60 annually.
• Shares opened at $328.75 after declining 4.5%, amid concerns about rising financing costs and potentially speculative AI investment. Despite these risks, analysts maintain a “Moderate Buy” consensus with an average price target of $527.20.

Assenagon Asset Management S.A. cut its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,891,018 shares of the semiconductor manufacturer's stock after selling 208,843 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Broadcom were worth $660,773,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Brindle & Bay Financial Advisors LLC raised its position in Broadcom by 49.2% in the third quarter. Brindle & Bay Financial Advisors LLC now owns 946 shares of the semiconductor manufacturer's stock worth $332,000 after purchasing an additional 312 shares in the last quarter. WealthPLAN Partners LLC lifted its holdings in Broadcom by 13.1% during the 3rd quarter. WealthPLAN Partners LLC now owns 5,292 shares of the semiconductor manufacturer's stock valued at $1,859,000 after purchasing an additional 613 shares during the last quarter. Summit Financial Wealth Advisors LLC boosted its position in Broadcom by 1.0% in the third quarter. Summit Financial Wealth Advisors LLC now owns 9,456 shares of the semiconductor manufacturer's stock valued at $3,321,000 after buying an additional 94 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Broadcom by 1.8% during the third quarter. State of Alaska Department of Revenue now owns 566,975 shares of the semiconductor manufacturer's stock worth $193,182,000 after buying an additional 9,850 shares during the last quarter. Finally, Gunderson Capital Management LLC grew its stake in Broadcom by 75.7% during the third quarter. Gunderson Capital Management LLC now owns 40,673 shares of the semiconductor manufacturer's stock worth $14,284,000 after buying an additional 17,520 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 4.5%

Broadcom stock opened at $328.75 on Friday. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. The stock has a market capitalization of $1.57 trillion, a P/E ratio of 40.18 and a beta of 1.46. The stock has a 50-day simple moving average of $364.33 and a 200 day simple moving average of $383.51.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.10. The firm had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business's revenue for the quarter was up 85.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.69 earnings per share. Analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom's dividend payout ratio (DPR) is presently 33.21%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s long-term AI opportunity remains attractive because hyperscalers and companies including OpenAI, Anthropic, Alphabet and Meta are adopting custom-designed chips and high-speed networking as alternatives to Nvidia GPUs. Analysts and investors continue to view Broadcom’s combination of custom silicon, networking and infrastructure software as a potential long-term growth engine. Will Broadcom Rejoin the $2 Trillion Club in 2027?
• Positive Sentiment: Erste Group raised its FY2027 earnings forecast for Broadcom, while roughly $121.5 million of net ETF purchases on Oct. 14 indicate that some institutional investors continue to add exposure. Broadcom FY2027 Earnings Forecast Raised by Erste Group Bank
• Neutral Sentiment: Broadcom’s reported plan to arrange $60 billion in financing connected to Anthropic could expand its AI relationship and customer opportunity, but it also increases the financial stakes and execution risk of the company’s AI strategy. Broadcom’s Anthropic Bet Gets Bigger
• Neutral Sentiment: Broadcom and CoreWeave rejected tokenized shares offered through the OKX/ICE venue, limiting a potential new trading channel but signaling caution around digital representations of public-company stock. CoreWeave, Broadcom Reject Tokenized Shares
• Negative Sentiment: CEO Hock Tan warned that rising financing costs and speculative, “casino-like” AI investing could slow expansion. His comments raise concerns that AI customers may reduce capital spending or struggle to turn heavy infrastructure investments into profits, weighing particularly on custom-AI-chip suppliers. Broadcom Falls as AI Capital Warning Weighs
• Negative Sentiment: Higher-than-expected inflation and expectations for higher interest rates are prompting investors to rotate away from expensive technology and AI stocks. A Gartner warning that many neocloud companies could fail or consolidate by 2030 has intensified fears of an AI infrastructure spending mismatch. MarketBeat Week in Review
• Negative Sentiment: Reports that Apple may cut iPhone 18 Pro component orders create an additional demand concern for suppliers, although Broadcom’s exposure and potential impact appear less direct than for some peers. Apple Cut iPhone 18 Orders

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AVGO shares. BMO Capital Markets raised their price target on Broadcom from $455.00 to $575.00 and gave the company an "outperform" rating in a report on Thursday, September 3rd. Bank of America reduced their price objective on Broadcom from $530.00 to $460.00 and set a "buy" rating on the stock in a research note on Thursday, September 3rd. Royal Bank Of Canada started coverage on Broadcom in a research note on Thursday, September 3rd. They issued an "outperform" rating on the stock. Sanford C. Bernstein restated a "buy" rating on shares of Broadcom in a report on Monday, September 21st. Finally, Citigroup restated a "buy" rating and issued a $515.00 target price (up from $500.00) on shares of Broadcom in a research note on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $527.20.

Broadcom Company Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops, and supplies semiconductor and infrastructure software products. Its semiconductor solutions support wired and wireless communications, data center networking, broadband access, storage, industrial applications, and other markets.

The company's semiconductor portfolio includes networking and switching products, custom application-specific integrated circuits, wireless connectivity components, radio-frequency devices, optical components, and storage-related solutions.

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